SafeCharge Increases its Stake in Israeli Tech Company Nayax

SafeCharge has raised it bet on Nayax’s cashless payment solutions and its ‎total ‎investment is now $24.5 million‎.

Payment service provider SafeCharge (LSE: SCH) is making good ‎progress with its strategy to win Tier 1 customers within new target verticals ‎and markets. Today the AIM-listed company announced its follow-on investment in ‎Nayax Ltd, an Israeli technology company that specializes in providing ‎credit card payment systems for vending machines.‎

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According to a company statement, SafeCharge raised its bet on Nayax’s cashless payment solutions and its total ‎investment now stands at $24.5 million.‎

The new infusion of funds will accelerate Nayax’s fast growth. Since taking ‎an initial investment from SafeCharge ‎one year ago, Nayax solutions ‎have been integrated with SafeCharge’s cards acquiring and payments ‎platform to deliver a scalable solution for unattended payments in over ‎‎200,000 devices worldwide, operating in more than 50 countries and 26 ‎currencies.‎

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The Tel Aviv-based company was founded in 2005 and its headquarters are ‎located in Hunt Valley, USA, while its main client base is in Europe. The ‎company has R&D and manufacturing bases in Israel and beyond, including ‎the US, UK, China, Italy and Germany.‎

Nayax’s main business line is development, manufacturing and sales of ‎cashless payment and telemetry systems, as well as relevant equipment. ‎

SafeCharge CEO David Avgi comments on the new investment: “We ‎are excited to play a key role in the enablement of contactless payments ‎through our card acquiring platform. This investment follows a successful ‎processing of Nayax through our platform in 2017. Nayax technology is ‎helping unattended commerce to grow globally, helping consumers on-the-‎go to pay for low ticket items quickly and securely thanks to their unique ‎cashless and telemetry technology‏.”

Nayax’s CEO Yair Nechmad, ‎adds‏: “We selected SafeCharge as our preferred card acquirer and strategic ‎investor. Safecharge’s unparalleled conversion rate, service quality, ‎superior analytics and fully transparent financial reporting are key for the ‎optimised operation of our business. Our unique partnership has enabled us ‎to accelerate our growth and we look forward to continuing to collaborate ‎closely with Safecharge.”‎

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